Markets: Citigroup and Osaka Exchange

markets: The agency urged the Japanese unit to compile a plan to improve management and internal control, and also present preventive measures by July 5, according to The Japan Times. It imposed a fine of 130 million 1.1 million on Citigroup Global Markets. The agency said Citigroup Global Markets Japan Inc. overlooked and executed fake trading orders, known as spoofing, for Japanese government bond futures on the Osaka exchange in late October last year, placed by a trader at Citigroup Global Markets Ltd., the British securities subsidiary of Citigroup. ; Spoofing is a practice in which traders attempt to manipulate the prices of publicly traded financial assets by placing large buy or sell orders with no intention of executing them. Citi will continue to enhance governance and internal controls and to develop and implement preventive measures to ensure that the issues identified by the regulators will not occur again, Citigroup Global Markets Japan said in a statement. Twitter Facebook Linked In LATEST BUSINESS STORIESAso, Treasury Secretary Steven Mnuchin discuss global economic risks amid U.S.-China trade spat Finance Minister Taro Aso met with U.S. Treasury Secretary Steven Mnuchin on Sunday to discuss issues of global economic concern amid the escalating trade tensions between the United States and ...ANA, space agency to look into possibility of using satellite system to find optimal flight pathsANA Holdings Inc. and the Japan Aerospace Exploration Agency JAXA have joined forces to look into the feasibility of using a satellite system to find the best flight paths for airplanes by obs... Ministry eyes sharply lower penalties for mobile phone contract termination The communications ministry is planning to lower penalty charges imposed by mobile phone service providers on early contract termination from the current 9,500 to 1,000 or less, it w... /4973089/JT-teads googletag.cmd.push function googletag.display ; ; (news.financializer.com). As reported in the news.